MIRA
INFORM REPORT
|
Report Date : |
19.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
NARA MOLD &
DIE CO., LTD. |
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|
|
|
Registered Office : |
50-1, Seongju-dong, Changwon-si, Gyeongsangnam-do 641-120 |
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Country : |
Korea |
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|
|
|
Financials (as on) : |
30.09.2008 |
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|
|
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Date of Incorporation : |
19.02.1999 |
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Com. Reg. No.: |
609-81-35789 |
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|
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Legal Form : |
Listed Company |
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|
|
|
Line of Business : |
Manufacture of Molding Patterns, Moulds and Industrial Patterns |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
No Complains |
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|
|
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Litigation : |
Clear |
Basic
|
Company
Name |
NARA MOLD &
DIE CO., LTD. (Korean Company
Name : “나라엠앤디”) |
|
Registered Address/Factory |
50-1, Seongju-dong, Changwon-si,
Gyeongsangnam-do, Korea |
|
Zip Code |
641-120 |
|
Tel |
+82-55-239-3600 |
|
Fax |
+82-55-239-3694 |
|
E-mail |
jswrym@nara-mnd.co.kr; kt13057@nara-mnd.co.kr;
maskjang@nara-mnd.co.kr;crazy@nara-mnd.co.kr |
|
Website |
www.naramnd.com |
|
Trading Address |
50-1, Seongju-dong, Changwon-si,
Gyeongsangnam-do, Korea |
|
Tel |
+82-55-239-3600 |
|
Fax |
+82-55-239-3694 |
|
Other Address-2nd Factory |
74-2, Seongsan-dong, Changwon-si,
Gyeongsangnam-do, Korea |
|
Tel |
+82-55-713-5120 |
|
Fax |
+82-55-713-5124 |
|
Type |
Export |
|
Industry |
Manufacture of Molding Patterns, Moulds and Industrial Patterns |
|
Main Business |
Injection Molds, Plastic Injection Molding |
|
Established (mm/dd/yyyy) |
02/19/1999 |
The Subject owns
the premises of registered HQ address/Factory and 2nd factory.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Foundry molds(23161606) |
|
Sell |
Shells and casings(31261600) |
|
Sell |
Transportation components and
systems(25170000) |
|
Sell |
Domestic microwave ovens(52141502) |
|
Sell |
Nozzles(40141731) |
|
Sell |
Fridge bar(56101526) |
|
Sell |
Industrial
Manufacturing and Processing Machinery and Accessories(23000000) |
|
Buy |
Polypropylene resin(13111019) |
|
Buy |
Acrylonitrile butadiene styrene
resin(13111004) |
|
Buy |
End mills(27112803) |
|
Buy |
Drills(23153301) |
|
Buy |
Grinders(27111905) |
|
Buy |
Form tools or toolbits(23153303) |
|
Buy |
Holding and clamping tools(27112100) |
|
Buy |
Drilling machines(23101502) |
|
Buy |
Milling machines(23101513) |
|
Buy |
Lathes(23171606) |
CEO’s
|
Name |
Kim Young-Jo |
|
Date of Birth |
05/10/1941 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital |
7,230,000,000 KRW |
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|
Employees |
215 |
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Formation |
Listed Company (KOSDAQ : ) as of 06/08/2001 Venture Business |
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Bank Details |
Citibank, Korea Woori Bank-Changwon Branch |
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Corporate Registered No. |
194211-0033580 |
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Business Registered No. |
609-81-35789 |
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Permit & Licenses |
05/1999 KT Mark 08/27/1999 ISO 14001 by BSI 02/2000 ISO 9001 by BSI 12/04/2001 QS 9000 by BSI 10/14/1999: Patents 10/14/1999 stacked motor rotor using laser merging technique 10/14/1999 manufacturing device and its methods (patent no: 0238555) 10/14/1999 manufacturing pin plate molds for heat exchanger (patent
No.: 0238554) 09/28/1999 molding and its manufacturing technology on motor
core(Patent No: 0235830) Int’l Trade No.: 24019703 |
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Shareholder Position |
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Company History |
02/19/1999
Established as a spin-off of mold department of LG Electronics Co., Ltd. 03/30/1999
Awarded certificate of 1st class factory in precision technology from Korea
Testing Laboratory. 04/23/1999
Appointed as a technology-based small company by Gyeongnam Small and Medium
Business Administration. 04/27/1999
Awarded patent No. 0119014 for stacked adhesion technology on motor core. 05/17/1999
Awarded KT mark on molding technology with no cut on the stator core from
Ministry of Science and Technology (MOST). 08/27/1999
Awarded ISO 14001 from BSI 09/16/1999
Awarded Gyeongnam Excellent Trader' Prize in the division of exporting new
company. 10/21/1999
Appointed as an excellent technology company from Korea Technology Credit
Guarantee Fund 12/01/1999
Awarded 1 million dollar export prize on Trade Day. 12/15/1999
Registered as a venture company and appointed as a military service exempted
company. 02/01/2000
Awarded ISO international quality standard from BSI. 02/28/2000
Designated as an excellent technology company by Small and Medium Business
Administration. 03/17/2000 Held
the 1st general meeting of stockholders. 08/17/2000
Designated as an excellent associated company by Thomson Co., USA. 09/01/2000 Awarded
Prime Minister's prize as an excellent capital products developing company. 09/21/2000
Designated as an excellent associated company by Zenith Co., USA. 11/30/2000
Awarded 1 billion dollar export prize on Trade Day 01/19/2001
Awarded Utility Model for shadow masking molds. 02/15/2001 Held
the 2nd general meeting of stockholders. 03/28/2001 Passed
the preliminary inspection for registration on KOSDAQ by The Korea Securities
Dealers Association (KSDA) . 05/03/2001
Performed the test of expectation demand model. 06/08/2001 Listed
in KOSDAQ 07/11/2001
Designated as 2001 collaborative development project - The project focuses
development of molds for automatic conver 12/04/2001
Acquired QS9000 (under evaluation by BSI) 03/15/2002 The
3th General Stockholders' Meeting. 03/01/2002
Designated as a technological innovation and development project of small and
medium business -Developed the knob-t 06/05/2002
Establishment of an overseas subsidiary in Indonesia. Name of Company :
PT.NARA SUMMIT INDUSTRY 12/16/2002 Movement
of headquarter office due to establishment of new factory. -After change :
50-1, Sung Ju-Dong Changwon City |
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Company History |
03/14/2003 The
4th General Stockholders' Meeting 03/27/2003
Contract on Technology Transfer - Party to Technology Transfer : PT.NARA
SUMMIT INDUSTRY - Reason of Technology Trans 12/27/2003
Determination to establish a joint forming and stamping die factory in china
- Name of Company : Yantai Die and Mold 03/19/2004 The
5th General Stockholders' Meeting 04/01/2004
Resolution on spin-off : Spin-off of plastic injection - New Company after
spin-off : NARA Platech 11/02/2004
Designated as the best enterprise for new labor-management culture (Minister
of Labor) - Term of validity: Nov. 02, 11/30/2004 Won a
prize for twenty million dollars export (the trade's day) 11/30/2004 Won
exploit of Trades Awards by President 11/30/2004 Won
official commendation of the ministry of Commerce, Industry and Energy 12/17/2004 Won
Gyeongsangnam-do best venture enterprise Award 01/13/2005
Acquired TS16949 certification (NQA) Term of validity: Jan. 13, 2005 ~ Jan.
12, 2008 03/18/2005 Held
the sixth general meeting of stockholders 04/01/2005 Opend
Seongsan factory (second establishment) 10/05/2005
Designated as the best innovative leader enterprise(Ministry of Science and
Technology) 11/14/2005
Established NARA MOBILE TECH CO., LTD a joint venture with LG ELECTRONICS
CO., LTD.- Stake: NARA MOLD & DIE CO., LTD 12/27/2005
Established WUXI NARA ELECTRONICS INDUSTRY CO., LTD in China- Stake: NARA
MOLD & DIE CO., LTD. (37.5%), NARA PLATECH 03/17/2006 Held
the Seventh Annual Shareholders’ Meeting 06/27/2006
Obtained a Certificate of Specialized Company for Parts and Material 03/16/2007 Held
the Eighth Annual Shareholders’ Meeting 04/13/2007 Obtained
a Certificate of Technical & Innovative Business (INN-BIZ) 06/14/2007
Established NARA MOLD &DIE (KUNSHAN) CO., LTD in china - Stake: NARA MOLD
& DIE CO., LTD. (100%) |
The Subject Company
specializes in the provision of molds. The Company operates its business
through two main divisions: Press Molds division and Plastic Molds division.
The Press Mold division produces molds used in the production of refrigerators,
electronic pipes, gas ovens, air conditioners, washing machines, as well as molds
for automobile, such as transmissions, radiators, seat parts and other related
products. Its Plastic Mold division offers molds used in the production of
televisions (TVs), air conditioners, washing machines, gas ovens, vacuum
cleaners, heater cases, blower cases, cooling fans and others. It also provides
components for automobiles and home electronics, including motor cores, seat
and brake components. As of December 31, 2007, the Company had four
subsidiaries.
Management
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education/Career |
|
President & CEO |
Mr. |
Kim Young-Jo |
Korean |
1941.05.10 |
A Director of LG Electronics |
|
Director-Press & Die Div. |
Mr. |
Kim Taik |
Korean |
1953.12.01 |
Dongah Uiversity |
|
Director-Mold Div. |
Mr. |
Kim Cheon-Soo |
Korean |
1958.12.02 |
Busan University |
|
Director-Part & Component |
Mr. |
Park Im-Seo |
Korean |
1958.11.07 |
Busan University |
|
Director-CFO |
Mr. |
Jung Nam-Hwa |
Korean |
1958.07.01 |
Busan University |
|
Director |
Mr. |
Park Sang-Yeol |
Korean |
1964.03.02 |
Korea National Open University |
|
Auditor |
Mr. |
Jung Young-Deuk |
Korean |
1945.02.14 |
Prof., of Bukyung College |
Financials
Unit: KRW
|
Year |
Sales |
Assets |
Net income |
|
48,847,418,221 |
69,115,916,060 |
565,225,803 |
|
|
2006 |
53,798,124,643 |
66,361,904,092 |
1,685,992,285 |
|
2005 |
56,959,416,413 |
62,926,519,683 |
2,788,207,927 |
|
2004 |
55,207,091,579 |
61,663,411,656 |
5,927,069,936 |
Financial Description
Unit: KRW
|
Authorized
Capital |
12,000,000,000 |
|
Paid-Up
Capital |
7,230,000,000 |
|
Total Issues Shares |
14,460,000 |
Balance
Sheet
|
Unit : Korean Won |
01/01/2008~09/30/2008 |
As of 12/31/2007 |
As of 12/31/2006 |
|
Total Assets |
75,903,930,216 |
69,115,916,060 |
66,361,904,092 |
|
Current Assets |
40,498,533,868 |
35,390,087,331 |
34,119,950,427 |
|
-Quick Assets |
19,789,098,394 |
20,616,607,147 |
24,207,800,113 |
|
-Inventories |
20,709,435,474 |
14,773,480,184 |
9,912,150,314 |
|
Fixed Assets |
35,405,396,348 |
33,725,828,729 |
32,241,953,665 |
|
-Investment |
12,190,125,674 |
10,116,473,054 |
8,721,629,830 |
|
-Tangibles |
21,536,747,506 |
21,863,795,988 |
21,733,303,953 |
|
-Intangibles |
1,042,019,498 |
1,194,055,221 |
920,386,258 |
|
-Others |
636,503,670 |
551,504,466 |
866,633,624 |
|
Total Liabilities |
28,349,610,727 |
24,845,616,602 |
21,661,076,355 |
|
Current Liabilities |
23,771,114,465 |
20,334,239,984 |
18,866,948,418 |
|
Fixed Liabilities |
4,578,496,262 |
4,511,376,618 |
2,794,127,937 |
|
Capital Stock |
7,230,000,000 |
7,230,000,000 |
7,230,000,000 |
|
Capital Surplus |
15,695,540,486 |
15,695,540,486 |
15,695,540,486 |
|
Profit Surplus |
28,663,093,209 |
25,822,530,494 |
26,005,865,351 |
|
Capital Adjustment |
(-)4,034,314,206 |
(-)4,477,771,522 |
(-)4,230,578,100 |
|
Total Equity |
47,554,319,489 |
44,270,299,458 |
44,700,827,737 |
|
Liab. & Shareholder’s Equity |
75,903,930,216 |
69,115,916,060 |
66,361,904,092 |
|
Current
Liabilities |
23,771,114,465 |
20,334,239,984 |
18,866,948,418 |
|
Trade Payables |
8,892,498,833 |
8,756,436,283 |
10,129,904,016 |
|
Short-Term Borrowings |
6,300,000,000 |
5,800,000,000 |
3,900,000,000 |
|
Current Portion of Long-Term
Debts |
450,000,000 |
375,000,000 |
225,000,000 |
|
Account Payables |
852,717,021 |
850,660,031 |
1,239,542,509 |
|
Advance Receipts |
4,341,334,111 |
3,707,563,119 |
1,945,679,805 |
|
Accrued Expenses |
2,039,650,184 |
46,230,849 |
2,688,904 |
|
Withholdings |
141,878,499 |
310,249,562 |
305,279,400 |
|
Accrued Income Tax |
636,290,013 |
236,208,772 |
177,613,168 |
|
VAT Withhold |
- |
155,701,892 |
287,831,366 |
|
Current Portion of Deferred
Income Tax Credit |
116,745,804 |
96,189,476 |
653,409,250 |
|
Fixed
Liabilities |
4,578,496,262 |
4,511,376,618 |
2,794,127,937 |
|
Long-Term Borrowings |
2,500,000,000 |
2,300,000,000 |
675,000,000 |
|
Provision for Severance &
Retirement |
5,041,068,198 |
4,511,522,407 |
4,202,907,363 |
|
Long-Term Account Payables |
213,400,000 |
326,034,200 |
172,915,600 |
|
Non-Current Portion of
Deferred Income Tax Credit |
62,705,736 |
305,093,575 |
419,684,964 |
|
Leasehold Deposit Received |
20,000,000 |
- |
- |
Income
Statement
|
Unit : Korean Won |
01/01/2008~09/30/2008 |
As of 12/31/2007 |
As of 12/31/2006 |
|
Sales |
42,104,111,289 |
48,847,418,221 |
53,798,124,643 |
|
Cost of Sold Goods |
34,338,350,004 |
43,370,939,761 |
45,165,508,330 |
|
Gross Profit |
7,765,761,285 |
5,476,478,460 |
8,632,616,313 |
|
Selling & Admin. Expenses |
3,762,844,131 |
5,164,629,768 |
5,861,710,260 |
|
Operating Income |
4,002,917,154 |
311,848,692 |
2,770,906,053 |
|
Non-Operating Income |
3,521,445,580 |
1,858,940,450 |
1,572,944,535 |
|
Non-Operating expenses |
3,570,247,363 |
1,865,344,203 |
2,247,403,297 |
|
Ordinary Income |
3,954,115,371 |
305,444,939 |
2,096,447,291 |
|
Special Income |
- |
- |
- |
|
Income Before Taxes |
3,954,115,371 |
305,444,939 |
2,096,447,291 |
|
Income Taxes Expenses |
489,752,106 |
-259,780,864 |
410,455,006 |
|
Net Income |
3,464,363,265 |
565,225,803 |
1,685,992,285 |
Cash
Flows
|
Unit : Korean Won |
01/01/2008~09/30/2008 |
As of 12/31/2007 |
As of 12/31/2006 |
|
Cash Flows from Operating |
2,276,446,102 |
(-)2,016,727,478 |
6,907,298,316 |
|
-Net Income |
3,464,363,265 |
565,225,803 |
1,685,992,285 |
|
-Exp. without Cash Outflow |
6,187,771,641 |
5,717,039,992 |
5,593,364,595 |
|
-Revenue
without Cash Inflows |
(-)1,887,936,190 |
(-)740,202,999 |
(-)633,579,599 |
|
-Changes in
Asset/ & Liability |
(-)5,487,752,614 |
(-)7,558,790,274 |
261,521,035 |
|
Cash Flows
from Investing |
(-)3,114,564,229 |
(-)4,765,084,236 |
(-)3,128,779,466 |
|
-Cash Inflow
from Investing |
21,757,631,819 |
50,259,653,474 |
49,932,695,202 |
|
-Cash
Outflows for Investing |
(-)24,872,196,048 |
(-)55,024,737,710 |
(-)53,061,474,668 |
|
Cash Flows
from Financing |
151,199,450 |
2,926,439,340 |
(-)748,560,660 |
|
-Cash
Inflows from Financing |
52,800,000,000 |
9,100,000,000 |
3,900,000,000 |
|
-Cash
Outflows from Financing |
(-)52,648,800,550 |
(-)6,173,560,660 |
(-)4,648,560,660 |
|
Increase/Decrease
in Cash |
(-)686,918,677 |
(-)3,855,372,374 |
3,029,958,190 |
|
Cash at the
Beginning of Year |
1,825,134,575 |
5,680,506,949 |
2,650,548,759 |
|
Cash at the End of Year |
1,138,215,898 |
1,825,134,575 |
5,680,506,949 |
Products, Technologies, Services
Description
|
Main
Products & Services |
Press Die -Vehicle: Thermal System, Seat Parts,
Transmission Parts, Body & Chassis Parts -Appliance -Display -Precision press :Motor Core, Lithium
Polymer Battery Injection Mold -Vehicle: Interior & Exterior Parts,
HVAC Parts, BEC Parts, Radiator Parts -Appliance -Display -Mobile Phone -Living & Consumer Parts & Components -Auto mission -Panel & Seat -Tapered Bearing -Motor Core Heat Exchanger |
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|
Annual
Production Capacity (Unit: EA) |
|
Trade Partners
|
Customers |
HYUNDAI MOTOR CO(110111-0085450) KIA MOTORS CORPORATION(110111-0037998) GM DAEWOO AUTO & TECHNOLOGY
COMPANY(120111-0294124) RENAULT SAMSUNG MOTORS CO.,
LTD.(180111-0330380) SAMSUNG ELECTRONICS CO.,
LTD.(130111-0006246) LG DISPLAY CO., LTD.(110111-0393134) HALLA CLIMATE CONTROL CORP(134711-0002206) KYUNGCHANG INDUSTRIAL CO.,
LTD.(170111-0007733) BORGWARNER TRANSMISSION SYSTEMS KOREA,
INC(110111-0564454) DELPHI-USA CARLISLE-USA HONDA-JAPAN SHIMIZU-JAPAN VESTEL-TURKEY ELECTROLUX-SWEDEN JCI-GERMANY CLASS-GERMANY TATA MOTORS-INDIA CHANGHONG ELECTRIC-CHINA |
|
Competitors |
KISHIN CORPORATION 439, NONHYUN-DONG NAMDONG-GU INCHEON,
405-849 SOUTH KOREA TEL:+82-32-8170231 FAX:+82-32-8147188 GLONEX CO.,LTD 43-21, GOBONG-RI SEONGSAN-MYEON GUNSAN-SI,
JEONRABUK-DO, 573-841 SOUTH KOREA TEL:+82-32-8128017 FAX:+82-32-8152087 DAEDONG METALS CO., LTD. 29-18, BOHNREE-RI NOHNGONG-EUP DAHLSUNG-GUN
DAEGU, 711-855 SOUTH KOREA TEL:+82-53-6105000 FAX:+82-53-6150715 |
Related Parties (Subsidiaries,
Joint-Venture & Affiliates)
|
Overseas Branch |
MICHIGAN OFFICE, USA 5910 BELLEVILLE RD., VAN BUREN TWP,
MICHIGAN 4811 USA TEL:+1-734-858-2200 FAX:+1-734-397-9125 SHANGHAI CHINA HAO HUATU-BUILDING 21A5 ROOM, XUHUIQU LONGHUAXILU
585, SHANGHAI-CITY, CHINA TEL:+8621-6469-4185 FAX:+86-21-6469-4172 |
|
Subsidiary |
PT.NARA SUMMIT INDUSTRY (98.0% held by the subject company) NARA PLATECH CO., LTD.(194211-0066771) (100.0% held by the subject company) NARA M-TECH CO., LTD.(131311-0062772) (80.10% held by the subject company) MUSEOK NARA ELECTRONICS CO., LTD-CHINA (37.50% held by the subject company) NARA MOGU(KONSAN) CO., LTD-CHINA (100.0% held by the subject company) |
Sales by
Region (Activity & Markets)
|
Sales/ Unit :Thousand KRW |
2007 |
2006 |
2005 |
|
Export |
26,584,495 |
27,889,365 |
29,914,197 |
|
Domestic |
22,262,923 |
25,908,759 |
27,045,219 |
|
Total |
48,847,418 |
53,798,125 |
56,959,416 |
The Subject exports
to China, Japan, Turkey, Sweden, Germany and USA.
Court
Action
No.
News
Clipping
--
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.08 |
|
UK Pound |
1 |
Rs.71.17 |
|
Euro |
1 |
Rs.66.98 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)